Undisclosed concessions Bangladesh has made will impact economy in coming days
The US has reduced tariffs on Bangladeshi imports to 20%, down from the previously declared 35%, following months of negotiations. While the tariff cut is being touted as an achievement, one key question remains: What terms — confidential under a non-disclosure agreement (NDA) — did we agree to? Though NDAs in such cases are not uncommon, it will be the next elected government, and by extension, the people, who will have to deal with the agreement’s long-term impacts. Experts weigh in on what the tariff cuts mean for Bangladesh
Everyone is sharing good news this morning — the US has reduced the tariff rate on Bangladeshi export products from 35% to 20%.
It is undoubtedly a positive development.
However, no one is discussing in detail what benefits Bangladesh is offering the US in return. Isn't it important for everyone to know that as well? After all, shouldn't we look at both sides of the coin?
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Citizens need to be mentally prepared for everything, after all.
Those who are sharing the good news today are not mentioning that the agreement was made under an NDA (Non-Disclosure Agreement), meaning it's bound by confidentiality.
As a result, the people of Bangladesh remain unaware of the terms under which the US granted tariff concessions on Bangladeshi exports. It's almost certain that the US received everything it asked for before agreeing to reduce the tariffs.
On the other hand, the concessions Bangladesh has made will surely impact the country's economy and public life in the coming days. It will be the responsibility of future elected governments — in other words, the people themselves — to manage the consequences.
And if those concessions result in negative outcomes, the elected government might simply say: "We're not responsible — the previous administration signed the agreement."
In that situation, what recourse will the public have?
This essentially reveals a persistent powerlessness of the people in matters of national policymaking — both before and after such decisions are made.
Disclaimer: Collected from Altaf Parvez's Facebook post.
